The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1887-01-16
FINANCE AND MINING.
Utah Wheat Going to LIVER
pool.
ORE AND BULLION RECEIPTS
Ogden Street Railway Dividend
southern observation-disclosures
Other Mines

Business has ranged rather dull
through the week; though the du lin, SIS
is nothing more than is usual at this
period of the year. A few features of
local trade deserve mention.
a dividend of 2 per cent. on the
capital stock ($5O,OOO) of the Ogden
Street Railway Company was declared
during the week. This is the initial
&vidend of this company, and was
greeted with decided satisfaction by the
Weber County investors. In view Of
general business conditions it reflects
credit on Mr.. Young, who has main
charge of the company's affairs.
Utah Southern Extensions in New
York had risen to 8iH at last accounts.
A feature of the past fortnight has
been the de nand for Utah wheat for
Liverpool shipment. Bailey q Son,
the shippers, report 150 car loads
ordered at Porta Costa, Cal, at once,
and as fast as they can be loaded they
are now going forward. The price paid
here is 60 cents Der bushel, at Nephi So
cents, and the railroad has given a spe-
shippers to clear up 81 or So car load.
From Dun's review Of trade we quote
the following; Rarely has year opened
with greater DISAGREEMENT than
the year 1886. Rarely has year closed
with more confidence. The dishearten-
ment was not wholly justified, and
there is some reason to fear that the
confidence may be partly unwarranted |
The failures for the year have been |
fewer than in 1885, and The aggregate |
Of liabilities has been smaller. But the |
average for the year has been scarcely |
lower, and for the last quarter failures |
have been both more numerous and |
larger than for the same quarter of |
1885; the increase in amount of lIabili- |
ties for that period being no less than A |
per cent.
During the past month, the failures
have been unusual in amount of nabili- |
lies. Without known disturbance or
depression in important branches of |
trade to cause them, they come like
bolts out of the blue" and seem to in
iicate an unexpected expansion of
credits. When it is remembered that
amiliar causes of such expansion have
existed; that the currency has been in
creased, and that wild speculation ran
lot month ago in STOCK and produce
these failures, with their rising
7olumes of Indebtedness, justify fear
hat confidence has grown TOO fast. DE
natural inference is that some firms.
anxious to recover in few months the
osses of several weary years. have gone
beyond their depth. How much of un
'oundness in commercial credits has
,hus been produced it is not possible
yet to judge.
During the past week legitimate bust
ness has not been large in volume. The
lullness usual in the closing week of the
year IS reported from all quarters. But
hough dealers are busy in making up
ccounts, there is everywhere a fe ling
f g eat confidence. Trade during the
asst nalf-year has been very large, and
generally remunerative. The prevailing
endency is to count upon continued
for the next season, and it
Iould be wise not to forget that it is
ossible to build too largely on the
lture, even in a time of real and
ealthy improvement.
Prices have advanced during the
'eek in nearly all speculative markets.
| flood of money from abroad stimu-
ateS trading here, while stringencv is
oted at Boston; and Chicago banks.
nXlous to keep Western money out of
his city, are talking of paying interest
n deposits. Stocks are stronger, in
pite of Use in the rate of exchange,
'hich indicates that foreigners are sell
sg to some extent. Wheat has been |
ctive, war rumors ruling, and has ad-
anced "a cents, with sales of 81, OOO, 900
ushels in FIVE days.
The earnings of the D. & r. G. for
December, 1856, were $615 ,626, as against
5O4 ,l75 for December, 1885. For the
hole OF 1886 they were $6.740 622, as
gainst $6,119,050 for the whole of 1885.
Bradstreets this week presents an ad-
nirably compiled table of the total of
ank clearings IN thirty-two principal
ties of the Union for the wears 1885.
1856 and 1884. The following selection
how the general drift: